Frontier Developments' David Braben conducted a postmortem of Elite at the Game Developers Conference, discussing the classic space combat game, notes PC Gamer. When asked about Elite 4, he says the possibility of another installment in the series lives after all these years. When asked if Elite 4 is "still on the table," he said: "Yes. It would be a tragedy for it not to be."

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Seems to me David Braben still likes to ride on that wave of past success.

The problem I see is that the gamers that used to play Elite are slowly but surely growing out of playing video games altogether. Back then he didn't have the means to create a AAA title, now he does, but space games have been relegated to a niche market over the years which have too little ROI to be worth the risk. It looks very unlikely that Elite IV will ever get released.